Synchronoss Technologies (SNCR) Downgraded by BidaskClub to Strong Sell
BidaskClub downgraded shares of Synchronoss Technologies (NASDAQ:SNCR) from a sell rating to a strong sell rating in a report published on Saturday morning.
A number of other brokerages also recently issued reports on SNCR. Raymond James Financial downgraded Synchronoss Technologies from an outperform rating to an underperform rating and set a $18.00 price objective on the stock. in a research note on Tuesday, September 19th. Deutsche Bank reissued a hold rating and issued a $18.00 price objective (up from $10.00) on shares of Synchronoss Technologies in a research note on Monday, October 9th. Zacks Investment Research downgraded Synchronoss Technologies from a hold rating to a sell rating in a research note on Wednesday, October 25th. Stifel Nicolaus reissued a hold rating and issued a $10.00 price objective (down from $16.00) on shares of Synchronoss Technologies in a research note on Wednesday, September 20th. Finally, Citigroup boosted their price objective on Synchronoss Technologies to $10.00 and gave the company a hold rating in a research note on Wednesday, September 20th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of Hold and an average target price of $16.57.
Synchronoss Technologies (NASDAQ SNCR) traded down $0.09 during midday trading on Friday, hitting $9.26. Synchronoss Technologies has a 52-week low of $8.48 and a 52-week high of $42.70. The firm has a market cap of $429.41, a P/E ratio of 6.39 and a beta of 1.55.
Several large investors have recently made changes to their positions in the company. Municipal Employees Retirement System of Michigan raised its stake in Synchronoss Technologies by 4.9% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 10,100 shares of the software maker’s stock worth $166,000 after buying an additional 470 shares during the period. Greenwood Capital Associates LLC acquired a new position in Synchronoss Technologies during the 2nd quarter worth approximately $166,000. Crossmark Global Holdings Inc. acquired a new position in Synchronoss Technologies during the 3rd quarter worth approximately $113,000. SG Americas Securities LLC acquired a new position in Synchronoss Technologies during the 3rd quarter worth approximately $119,000. Finally, BNP Paribas Arbitrage SA raised its stake in Synchronoss Technologies by 56.9% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 13,795 shares of the software maker’s stock worth $227,000 after buying an additional 5,003 shares during the period. 68.35% of the stock is currently owned by institutional investors.
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Synchronoss Technologies Company Profile
Synchronoss Technologies, Inc is a global software and services company, which provides technologies and services for the mobile transformation of business. The Company’s portfolio in the Consumer and Enterprise markets contains offerings, such as personal cloud, secure-mobility, identity management and scalable messaging platforms, products and solutions.
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